B.Riley FBR Sticks to Their Buy Rating for Alcoa (AA)
B.Riley FBR analyst Lucas Pipes reiterated a Buy rating on Alcoa (AA) yesterday and set a price target of $21.00. The company’s shares closed last Monday at $15.98, close to its 52-week low of $13.62.
According to TipRanks.com, Pipes is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -8.9% and a 39.0% success rate. Pipes covers the Basic Materials sector, focusing on stocks such as Hallador Energy Company, Novagold Resources New, and CONSOL Coal Resources.
Alcoa has an analyst consensus of Moderate Buy, with a price target consensus of $22.06, implying a 42.0% upside from current levels. In a report issued on February 3, J.P. Morgan also maintained a Buy rating on the stock with a $23.00 price target.
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Based on Alcoa’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.44 billion and GAAP net loss of $303 million. In comparison, last year the company earned revenue of $3.37 billion and had a net profit of $43 million.
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Alcoa Corp. engages in the production of bauxite, alumina, and aluminum products. It operates through the following segments: Bauxite, Alumina, and Aluminum. The Bauxite segment represents the company’ global bauxite mining operations. The Alumina segment includes the company’s worldwide refining system, which processes bauxite into alumina.